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The Sebeka Company reports the following information pertaining to the month of January.
During January, the company purchased $60,000 of direct materials and incurred $80,000 of
direct labor costs. Total manufacturing overhead costs for the month amounted to $25,000. Selling
and administrative expenses amounted to $100,000, and the companys January sales amounted
to $500,000.
a. Prepare Sebekas schedule of the cost of finished goods manufactured.
b. Prepare Sebekas income statement (ignore income taxes).
Ending
Balance
Beginning
Balance
Materials
Inventory
$ 15,000 $ 45,000
Work in
Process
Inventory
30,000 70,000
Finished
Goods
Inventory
50,000 40,000

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The Sebeka Company reports the following information pertain.pdf

  • 1. The Sebeka Company reports the following information pertaining to the month of January. During January, the company purchased $60,000 of direct materials and incurred $80,000 of direct labor costs. Total manufacturing overhead costs for the month amounted to $25,000. Selling and administrative expenses amounted to $100,000, and the companys January sales amounted to $500,000. a. Prepare Sebekas schedule of the cost of finished goods manufactured. b. Prepare Sebekas income statement (ignore income taxes). Ending Balance Beginning Balance Materials Inventory $ 15,000 $ 45,000 Work in Process Inventory 30,000 70,000 Finished Goods Inventory 50,000 40,000